Halliburton's Price Target Raised Amid Positive Market Sentiment
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 04 2024
0mins
Should l Buy HAL?
Source: Business Insider
Halliburton Co's stock has surged 3.02% and reached a 52-week high, reflecting strong investor confidence in the company's future prospects.
The price target for Halliburton was raised from $29 to $36 by Susquehanna, indicating over a 10% upside from current levels. This optimism is driven by the potential impact of U.S. actions in Venezuela, where Halliburton has filed an international arbitration case against the Venezuelan government for broken contracts. If the political situation improves, the company could see significant financial benefits, enhancing its market position.
This positive outlook suggests that Halliburton is well-positioned to capitalize on future opportunities in the oil sector, despite broader market challenges affecting the energy industry.
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Analyst Views on HAL
Wall Street analysts forecast HAL stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for HAL is 32.31 USD with a low forecast of 28.00 USD and a high forecast of 39.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
18 Analyst Rating
12 Buy
6 Hold
0 Sell
Moderate Buy
Current: 33.840
Low
28.00
Averages
32.31
High
39.00
Current: 33.840
Low
28.00
Averages
32.31
High
39.00
About HAL
Halliburton Company is a provider of products and services to the energy industry. The Company operates through two segments: Completion and Production and the Drilling and Evaluation. The Completion and Production segment delivers cementing, stimulation, specialty chemicals, intervention, pressure control, artificial lift, and completion products and services. The segment consists of artificial lift, cementing, completion tools, pipeline and process services, production enhancement, and production solutions. The Drilling and Evaluation segment provides field and reservoir modeling, drilling fluids, evaluation and precise wellbore placement solutions that enable customers to model, measure, drill, and optimize their well construction activities. Its product service lines include Baroid, drill bits and services, Halliburton project management, landmark software and services, Sperry drilling, testing and subsea and wireline and perforating.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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